VANCOUVER, CANADA -- June 20, 2002 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI and NTAIW; CBOE Symbol: QNA) held its annual meeting of shareholders in Los Angeles on June 14 where shareholders approved the election of the nominated slate of directors. In addition, shareholders approved the appointments of Joseph Li as Chief Executive Officer and President and Ming Kown Koo as Chief Financial Officer.
The firm of HLB Hodgson Impey Cheng received almost unanimous (99.8%) shareholder support for their appointment as independent accountants of the Company for the year ending December 31, 2002. Ranked as the 13th largest international accounting firm, HLB Hodgson Impey Cheng was formed in 1983 but can trace its origins back 50 years in Hong Kong and 200 years in the United Kingdom. They have a client base drawn from across all sectors of the business community. Global and regional resources are available through the firm’s membership in HLB International whose client base includes publicly listed companies on the world’s leading stock exchanges including the New York Stock Exchange and the NASDAQ. For more information see their web site www.hlbi.com.
“I am encouraged by the success of the annual shareholders’ meeting and the strong shareholder support received on each proposal voted at the meeting”, commented Mr. Murakami, Nam Tai’s Chairman. “The overwhelming 99.8% shareholder support for HLB Hodgson Impey Cheng to be appointed as independent accountants for year 2002 is particularly encouraging. We are looking forward to HLB Hodgson Impey Cheng providing excellent service for Nam Tai and its shareholders.”
Second Quarter Dividend
Nam Tai will pay its second quarter dividend of $0.12 per share on or before July 21, 2002 to shareholders of record at the close of business on June 30, 2002.
Nam Tai Electronics, Inc. is an electronics design and manufacturing service provider to some of the world's leading original equipment manufacturers. Nam Tai manufactures telecommunication products, palm-sized PCs, personal digital assistants, linguistic products, calculators and various components including LCD modules for cellular phones, transformers and LCD panels. The Company utilises advanced production technologies such as chip on board (COB), chip on glass (COG), chip on film (COF), surface mount technology (SMT), ball grid array (BGA), tape automated bonding (TAB), and outer lead bonding (OLB) technologies. Further information is available on Nam Tai's web site at www.namtai.com.